Richland Resources Ltd Extension to Amended Option Agreement (7682R)
October 31 2019 - 4:04AM
UK Regulatory
TIDMRLD
RNS Number : 7682R
Richland Resources Ltd
31 October 2019
31 October 2019
Richland Resources Ltd
("Richland" or the "Company")
Extension to Amended Option Agreement's Longstop Date
to sell the Capricorn Sapphire Project
Richland (AIM: RLD), further to its announcements of 18 July
2019, 22 July 2019 and 19 August 2019 in relation to its
transaction with Fura Gems Inc. ("Fura"), pursuant to which Fura
has exercised its option (the "Option") to conditionally acquire
from the Company: (i) all of the issued shares of its wholly owned
subsidiary Richland Corporate Ltd ("Richland Corporate") (the
"Shares"); and (ii) all of the Company's loans to Richland
Corporate (the "Shareholder Loan") (together, the "Option Assets")
(the "Proposed Disposal"), announces that the longstop date in
respect of the Amended Option Agreement has been extended from 31
October 2019 until 15 November 2019 (the "Revised Longstop Date").
Further details of the Proposed Disposal are set out in the
Company's announcements of 27 June 2019, 18 July 2019, 22 July 2019
and 19 August 2019.
The Revised Longstop Date will enable the parties to complete
the remaining legal formalities in relation to the completion of
the Proposed Disposal.
As previously announced on 27 June 2019, the maturity date of
the Secured Convertible Loan Facility was extended to the Longstop
Date such that the new maturity date for the facility is now 15
November 2019, as agreed with the provider of the facility.
A further announcement(s) will be made, as appropriate, in due
course.
Capitalised terms used in this announcement, unless otherwise
defined herein, have the same meanings as set out in the Company's
announcement of 27 June 2019.
For further information, please contact:
Anthony Brooke Edward Nealon Mike Allardice
Chief Executive Officer Chairman Group Company Secretary
+66 81 854 1755 +61 409 969 955 +852 91 864 854
Nominated Adviser Broker
Strand Hanson Limited Peterhouse Capital Limited
James Harris Duncan Vasey / Lucy Williams
Matthew Chandler (Broking)
James Dance Eran Zucker (Corporate Finance)
+44 (0) 20 7 409 3494 +44 (0) 20 7 469 0930
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014.
Note to Editors:
Further information is available on the Company's website:
www.richlandresourcesltd.com. Neither the contents of the Company's
website nor the contents of any website accessible from hyperlinks
on the Company's website (or any other website) is incorporated
into, or forms part of, this announcement.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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